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Tamer
Tamer is a 27-year-old single young man. For the past five years, Tamer has had a store for designing and implementing wedding cards, seals, and shields upon customers' request. This store has been a profitable and the only source of income for him, but also it needs more improvements and support to cover the cost.

Tamer is requesting a loan from FATEN to help him cover the cost of purchasing new printer machine. Taking this loan will help Tamer to meet the increasing demand from customers by doing his work in high quality and less time. This will increase sales and improve Tamer's income positively.

Tamer is photographed inside his store.

About Shariah-compliant lending:

FATEN offers loan products that are designed to serve borrowers all over Palestine, including some religiously conservative areas. A key tenet of Islam is the prohibition of interest in the lending or accepting of money. This prohibition is based on the belief that money should be seen only as a medium of exchange and that it has no value in itself. FATEN has adapted the terms of this loan to fit the cultural context by attaching a 0% interest rate to the loan. In order to cover its costs, FATEN does charge a servicing fee. The amount you see fundraising includes both the principal loan and the loan servicing fees. As with all Kiva loans, you should expect to have your funds returned to you in accordance with the repayment schedule attached to this loan. For more information on lending in the Muslim world, please visit Kiva's Muslim World Lending helptext: http://tinyurl.com/3aekx8m.

Additional Information

More information about this loan

This loan is governed by Islamic lending principles. Because Islamic Law prohibits the charging of interest, FATEN is charging 0% interest on this loan. This is a Murabaha loan, which means that FATEN purchases goods for borrowers and charges a fee or mark-up. Click here to learn more about this loan type and Kiva's approach to lending in the Islamic world.  

About FATEN

Palestinians face unique challenges due to the economic and political environment in the West Bank and Gaza. Click here to learn more about how Kiva and FATEN are working to help Palestinian borrowers overcome these obstacles and how your support can make a difference.

About Palestine

  • $2,900
    Average annual income
  • 29
    View loans »
    Palestine Loans Fundraising
  • $11,166,900
    Funds lent in using Kiva
  • US Dollars
    Loan transacted in USD

Success!! The loan was 100% repaid

A loan of $975 helped Tamer to buy a printer.
100% repaid
Repayment Term
21 months (Additional Information)
Repayment Schedule
Monthly
Pre-Disbursed:
Sep 25, 2012
Listed
Nov 5, 2012
Currency Exchange Loss:
N/A
Ended:
May 17, 2014